Evoke Pharma, Inc. (NASDAQ:EVOK) Sees Significant Drop in Short Interest

Evoke Pharma, Inc. (NASDAQ:EVOK) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 26,000 shares, a decrease of 72.3% from the September 30th total of 93,900 shares. Based on an average daily volume of 72,900 shares, the days-to-cover ratio is presently 0.4 days. Currently, 3.5% of the company’s stock are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Evoke Pharma in a report on Saturday, October 19th. They set a “sell” rating for the company.

Evoke Pharma Price Performance

Shares of EVOK traded down $0.04 during mid-day trading on Friday, hitting $5.09. 13,658 shares of the company’s stock were exchanged, compared to its average volume of 25,359. The company has a 50-day simple moving average of $4.79 and a 200 day simple moving average of $5.54. The company has a market cap of $43.76 million, a PE ratio of -2.63 and a beta of 0.39. Evoke Pharma has a 52 week low of $3.54 and a 52 week high of $17.88.

Evoke Pharma (NASDAQ:EVOK) last announced its quarterly earnings data on Tuesday, August 13th. The specialty pharmaceutical company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.21). Evoke Pharma had a negative net margin of 86.74% and a negative return on equity of 964.25%. The company had revenue of $2.55 million during the quarter.

Evoke Pharma Company Profile

Evoke Pharma, Inc, a specialty pharmaceutical company, primarily focuses on the development and commercialization of drugs for the treatment of gastroenterological disorders and diseases. It offers Gimoti, a metoclopramide nasal spray to treat symptoms associated with acute and recurrent diabetic gastroparesis in adults.